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Alibaba to split into six units, likely to pursue separate IPOs

2023-03-28T09:44:08Z

The logo of Alibaba Group is seen at its office in Beijing, China January 5, 2021. REUTERS/Thomas Peter

Alibaba Group Holding Ltd (9988.HK) is planning to split its business into six main units covering e-commerce, media and the cloud, the company said on Tuesday, adding that each of the unit will explore fundraising or initial public offerings.

U.S.-listed shares of Alibaba rose 3.5% in trading before the bell.

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